Dunedin invests in digital technology specialist Incremental Group

By Dunedin, December 04,2018

Second technology investment for Dunedin within five months

Dunedin has invested in UK based Incremental Group, a market leading digital technology services business. Incremental was formed following the acquisitions of First eBusiness Solutions in November 2016 and GAP Consulting in June 2018. Dunedin will work with the existing management team to further strengthen the business through organic growth, identify and integrate acquisition targets and make further funding available to support a buy and build strategy.

With a headcount of 125, Incremental has five sites in Glasgow, London, Manchester, Inverurie and Northwich. Clients include Total, Aggreko Shelter, Scottish Leather Group and Aberdeen City Council. The business helps its clients to design, implement and manage their IT infrastructure needs which include ERP, CRM, cyber security and digital applications. Incremental’s mission is to enable government and industry to digitally transform their businesses, one step at a time

Incremental’s management team has achieved strong organic growth across the combined Group and has built a strong platform for continued success. Dunedin’s investment will support continued organic growth as well as an accelerated buy-and-build strategy, enabling the business to reinforce its position as a market leading IT services provider.

Simon Rowan, Partner at Dunedin, who led the deal, said; “We are delighted to be partnering with a highly successful and ambitious management team whom we have known for a number of years. This investment aligns closely with our strategy to support businesses with a technological edge that have the ability to develop strong positions in their space."

“Incremental has performed exceptionally well and with further funding and our support behind it, is well placed to capitalise on the compelling opportunities for growth. The IT services market is one of the fastest growing technology segments and we look forward to working with the team as they reinforce their position as market leaders in this space.”

Neil Logan, CEO of Incremental Group, said: “It is fantastic to be partnering with Dunedin as Incremental embarks on the next stage of its growth. We have got to know the Dunedin team well in recent years and felt that their experience in growing businesses with technological expertise will be very beneficial to us. They also bring additional funding capability which will enable us to execute a number of acquisitions."

“Ultimately this will mean that we can expand and deepen the range of services that we offer our clients across the UK. We are grateful for the support that Maven Capital and the Scottish Investment Bank have given us since our launch in December 2016 and we look forward to working with Dunedin to secure our position as a market leading IT services provider.”

Dunedin has exited professional services firm Blackrock PM, achieving 2.8x return for Dunedin investors. Since Dunedin invested in March 2015 the company has grown significantly, increasing international sales by 221% and tripling overall revenue.

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